By Tiernan Ray

Shares of Apple (AAPL) are up $6.12, or 1.2%, at $536, after the company last night beatfiscal Q4 expectations and forecast this quarter’s revenue above expectations.

The stock recovered from an after-hours dip as Apple explained a disappointing gross margin outlook was the result of new accounting for deferred revenue.

Price targets are zooming this morning, and and stock has gotten at least one upgrade, from R.W. Baird’s William Power, who raises his rating to Outperform from Neutral, with a $620 price target, up from $525, writing that “with better-than-expected results now behind us, we expect the focus to turn to 2014, which we believe holds more promise.”

Power sees a larger-screen iPhone, an Apple-branded television set, wearable devices, and a deal with China Mobile (CHL) as things that could be “catalysts.”

Not everyone’s at ease. Glen Yeung of Citigroup maintains a Neutral rating on the shares, though he hikes his price target to $530 from $430, writing that “Based on our prior analysis of the smartphone industry, we continue to have concerns about a post-release fall off in iPhone sales in F2Q14(Mar) as carrier release is more concentrated.”

Speaking of smartphones, following data released last night by Strategy Analytics, research firm IDCthis morning issued its own numbers for Q3 smartphone sales. IDC saw a somewhat smaller growth rate than the 45% Strategy Analytics projected, instead estimating a 38.8% rise. IDC had almost the same lineup, with Samsung Electronics (005930KS) topping the charts at 31.4%, followed by Apple at 13.1%, and Huawei in third place. IDC sees Lenovo (0992HK) as the fourth-largest smartphone vendor in the world, ahead of LG Electronics (066570KS).

Shares of 3-D printing maker 3D Systems (DDD) are up 51 cents, or 0.9%, at $57.49, after the company this morning reported revenue of $135.7 million, beat the consensus $132 million, and matched the average 26 cents estimate for EPS. The company cut its annual profit forecast to a range of 93 cents to $1.03, below the average $1.01, but raised its revenue view to $500 million to $530, which was better than an average estimate of $505.4 million.

Kenneth Wong at Citigroup, who has a Buy rating on the shares, and a $60 price target, writes that “Print systems and services were the primary driver relative to our estimates and while materials trended higher as well, it was below our expectations. DSOs trended back to mid-70s which should alleviate some concerns investors had around this metric.”

Shares of Tableau Software (DATA), which last night beat Q3 revenue expectations, are up $4.3, or almost 7%, at $67.64, after the company last night beat Q3 revenue and a surprise profit.

Shares of Yahoo! (YHOO) are up 75 cents, or 2.4%, at $33.10, after Bernstein Research’s Carlos Kirjner raised his rating on the shares to Outperform from Market Perform, and and set a $40 price target, writing that the value of the company’s investment in Alibaba Group Holding, the Chinese e-commerce giant, is worth at least $24 per share, based on a valuation of Alibaba of $190 billion, well above recent estimates of perhaps $100 billion to $120 billion.

Alibaba is expected to go public at some point, and investors expect Yahoo! to cash out some portion of its position, although how it will do so is not yet clear.

Shares of data management technology maker Commvault Systems (CVLT) are down $5.17, over 6%, at $77.33, after the company this morning reported fiscal Q2 revenue of $141.9 million, and EPS of 48 cents, topping consensus of $140 million and 40 cents. Based on questions on the conference call this morning, investors had some concern about the amount of deferred revenue Commvault recorded in the quarter being lower than they would have liked.

Commvault CEO Robert Hammer remarked that ” Given the opportunity ahead of us, we will continue to heavily invest for growth and innovation, particularly in our sales and technical teams.”

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.